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Economic students ready for Budget speech

23 Feb 2016

Every year South Africa's brightest economics students are given the opportunity to sharpen and share their thoughts on economic issues of national importance in the Budget Speech Competition. They are invited to submit essays examining an aspect of economic development. Once selected, the finalists, 10 undergraduates and 10 postgraduates, face rigorous questions from a board of adjudicators that includes some of the country's top economists and analysts.

Dave Macready, CEO of Old Mutual Emerging South Africa

Launched in 1972, this competition is an initiative by Nedbank, Old Mutual and South Africa’s National Treasury. It is designed to facilitate dynamic dialogue between tomorrow’s economists and the fiscal policy-makers of today.

The winners are announced at a prestigious gala dinner co-hosted by Nedbank and Old Mutual on the evening of the Budget Speech, 24 February, with the Minister of Finance in attendance as the guest of honour.

This year undergraduate candidates had to examine the viability and sustainability of the proposed minimum wage, while postgraduate candidates discussed the implications of quantitative easing.

Dave Macready, CEO of Old Mutual Emerging South Africa, says, “We’re proud to have supported this competition for more than 40 years and we’re grateful for the ongoing patronage of the Finance Minister, who clearly values the role of young people in the national conversation about economic development.

“Fresh perspectives on complex issues such as a minimum wage are essential. As we fight together for South Africa’s future and plan for economic growth and national development, it is vital that we listen to the voices of the new generation.”

Mike Brown, CE of Nedbank, agrees, “It’s encouraging to see the rigour with which the postgraduate finalists examined the implications of quantitative easing in the US, its implementation in Europe, and how South Africa should in turn react. The Nedbank & Old Mutual budget Speech Competition gives us an opportunity to contribute towards building future leaders who will be part of moulding the success of this economy, leaders who will be instrumental in bringing about positive change and building an economy founded on inclusive growth as a foundation for a more prosperous society.”

Three universities again made a strong showing: the University of Cape Town produced six finalists, while the University of Johannesburg and the University of the Witwatersrand each produced five.